SUBSTITUTE ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, pursuant to an ordinance adopted by the City Council on December 11, 2013, and published at pages 71195 through 71234 in the Journal of the Proceedings of the City Council of such date (the "Project Ordinance"), the City entered into that certain Agreement for the Sale and Redevelopment of Land with GSDC DV LLC ("GSDC"), WM Initiatives LLC ("WMI") and WINGS Metro LLC ("WINGS Metro" and, together with GSDC and WMI, the "Developer"), dated as of April 1, 2015, and recorded in the Office of the Recorder of Deeds of Cook County, Illinois, on April 14, 2015, as Document No. 1610429003 (the "Redevelopment Agreement"); and
WHEREAS, pursuant to the Redevelopment Agreement, the City conveyed the real property legally described on ExhibitA attached hereto (the "City Property"), to GSDC, for $1.00, and GSDC immediately reconveyed the City Property to WINGS Metro, for the construction of a mixed-use project (the "Project"); and
WHEREAS, the Project consists of (i) a 40-bed supportive housing facility with 24-hour staff to provide support services (the "Shelter"), (ii) three (3) units of rental housing for residents leaving the Shelter or similarly-situated individuals and families, (iii) offices for counseling and other social services to serve the current and former residents of the Shelter and similarly-situated individuals and families, and (iv) approximately 4,630 square feet of retail space to support the operations of the Shelter and the rental housing; and
WHEREAS, the Project has received, or will receive, support from the Department of Family and Support Services in the form of two grants: a construction grant in the amount of $1,200,000, and an operating grant in the amount of $600...
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